Austerity is supposed to be a miracle fix for the economy, but the promises made when cuts are proposed often do not come true. Political power goes hand in hand with those holding the most money. When political control is concentrated among a small elite, austerity programs will likely work against the masses, and particularly those classes with the least power.
This short video by Workers Uniting summarizes the issues that working-class and poor people are now facing across the country: lowered wages, unemployment, and welfare cuts. Canadian economist Armine Yalnizyan makes a statement at 4:41, "You can't cut your way into growth..." She later refers to these cuts being made as a "fiscal fantasy"--that cutting programs will magically solve budget deficits and help redistribute wealth. This logic is a bit backwards. If it were this easy to solve economic problems, would it be right to cut those programs that assist our "have-not" citizens? At 7:07 Robert Kuttner suggests that we end politics that bring austerity, and elect those who will bring "possibility". Government needs to find alternatives to grow the economy, and in turn slash deficits without cutting programs that help the under-represented 99%.